Previous close | 646.85 |
Open | 629.95 |
Bid | 640.45 x 0 |
Ask | 640.95 x 0 |
Day's range | 608.40 - 646.55 |
52-week range | 407.30 - 714.85 |
Volume | |
Avg. volume | 321,889 |
Market cap | 1.541T |
Beta (5Y monthly) | 1.41 |
PE ratio (TTM) | 15.09 |
EPS (TTM) | N/A |
Earnings date | N/A |
Forward dividend & yield | 3.00 (0.43%) |
Ex-dividend date | 14 Aug 2023 |
1y target est | N/A |
"Novelis will continue to evaluate the timing of theoffering in the future," it said in a statement, without giving further details. The world's largest recycler of aluminum, whose customers include Coca-Cola, Ford and Jaguar LandRover, said last month it was targeting a valuation of up to $12.6 billion in its US IPO. Hindalco was looking to raise up to $945 million through the sale of 45 million shares at a price of $18 to $21 per share.
(Reuters) -Novelis, owned by Indian billionaire Kumar Mangalam Birla's Hindalco Industries, is targeting a valuation of up to $12.6 billion in its initial public offering in the United States, the aluminum products maker said on Tuesday. The world's largest recycler of aluminum, whose customers include Coca-Cola, Ford, Jaguar LandRover, said its parent is looking to raise up to $945 million through the sale of 45 million shares at a price of $18 to $21 per share. After being on ice for the last two years, the IPO market is on the road to recovery as a booming stock market and economic resilience spur companies to list their shares.
The company is moving ahead with a listing at a time when the U.S. IPO market is on a rebound this year, after a two-year lull, on hopes of a "soft landing" for the economy, where inflation falls without a recession or big job losses. Novelis is seeking to complete the planned IPO as soon as early June, Bloomberg News reported, citing people familiar with the matter. Novelis, a leading producer of flat-rolled aluminum products, did not immediately respond to a Reuters request for comment for more details on the IPO.